20 Agents in hot water over trust account woes
A new NSW Fair Trading crackdown has led to eight real estate agent licence cancellations, nine licence disqualifications, and almost $175,000 in penalties. According to NSW Fair Trading’s executive director of investigations and enforcement, Valerie Griswold, the operation targeted real estate agents who failed to lodge their trust account audits for 2019-20. She said: “Fair […]
MIG Real Estate’s Amit Miglani sentenced to community corrections order for converting trust account funds to his own use
A Melbourne real estate agent has narrowly avoided jail time after taking nearly $100,000 out of his agency’s trust account and splurging on luxury cars and private school fees. MIG Real Estate’s Amit Miglani was sentenced to a community corrections order with conviction for 18 months, requiring 300 hours of unpaid community work, in the […]
VIC agent fined for placing $20K deposit into personal account
A Victorian estate agent has been fined $8,000 and given a criminal conviction after asking purchasers to pay some of their deposit into his personal account – as opposed to the agency’s trust account. 48-year old Thomas Henry Albert Aloysius was convicted of mishandling money, failing to act in his principals best interest and behaving […]
Sydney couple buying property scammed out of almost $1 million
Anita and Nandos had just purchased the perfect investment property in Macquarie Park last year. They were in the final stages of settlement and just needed to transfer about $1 million to finalise the sale. A day before they transferred the funds, the couple allegedly received what appeared to be a legitimate email from their […]
Volt acquires Australian Mortgage
Volt Bank has acquired fintech mortgage manager Australian Mortgage – formerly known as Australian Mortgage Marketplace – as it looks to roll out its digital mortgage offering. The neobank has announced that it has completed its first acquisition, acquiring 100 per cent of neo-lender Australian Mortgage (AM) and its “Intelligent Credit” solution. The deal, which settled on Sunday (11 […]
Real estate gets a tech makeover
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Australians urged to stay cyber safe as part of Cyber Security Awareness month
Australians have been urged to follow individual security precautions as part of this year’s Cyber Security Awareness Month theme, “Do your Part. #BeCyberSmart”. Assistant Minister for Defence Andrew Hastie has encouraged Australians to take precautions against common cyber security threats as part of Cyber Security Awareness Month 2021, with this year’s theme “Do your Part. […]
